Putney Financial Group LLC Buys 6,233 Shares of Interactive Brokers Group, Inc. $IBKR

Putney Financial Group LLC increased its position in Interactive Brokers Group, Inc. (NASDAQ:IBKR) by 282.4% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 8,440 shares of the financial services provider’s stock after buying an additional 6,233 shares during the period. Putney Financial Group LLC’s holdings in Interactive Brokers Group were worth $468,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. N.E.W. Advisory Services LLC bought a new position in Interactive Brokers Group in the first quarter worth approximately $26,000. ORG Partners LLC lifted its holdings in shares of Interactive Brokers Group by 312.9% in the 2nd quarter. ORG Partners LLC now owns 479 shares of the financial services provider’s stock worth $27,000 after purchasing an additional 363 shares in the last quarter. Contravisory Investment Management Inc. grew its position in Interactive Brokers Group by 300.0% in the 2nd quarter. Contravisory Investment Management Inc. now owns 564 shares of the financial services provider’s stock valued at $31,000 after purchasing an additional 423 shares during the period. Private Wealth Asset Management LLC increased its stake in Interactive Brokers Group by 300.0% during the 2nd quarter. Private Wealth Asset Management LLC now owns 580 shares of the financial services provider’s stock valued at $32,000 after purchasing an additional 435 shares in the last quarter. Finally, Nvwm LLC bought a new stake in Interactive Brokers Group during the 1st quarter valued at $33,000. 23.80% of the stock is owned by institutional investors.

Insider Activity

In related news, CFO Paul Jonathan Brody sold 116,861 shares of the firm’s stock in a transaction dated Thursday, September 18th. The shares were sold at an average price of $64.73, for a total transaction of $7,564,412.53. Following the completion of the sale, the chief financial officer owned 158,954 shares in the company, valued at approximately $10,289,092.42. This trade represents a 42.37% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, Vice Chairman Earl H. Nemser sold 194,086 shares of Interactive Brokers Group stock in a transaction dated Tuesday, August 12th. The stock was sold at an average price of $67.49, for a total transaction of $13,098,864.14. Following the completion of the sale, the insider directly owned 461,500 shares in the company, valued at approximately $31,146,635. This represents a 29.60% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last 90 days, insiders have sold 1,210,152 shares of company stock valued at $77,603,239. 2.97% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

A number of research analysts have recently issued reports on IBKR shares. BMO Capital Markets lifted their price objective on shares of Interactive Brokers Group from $82.00 to $84.00 and gave the company an “outperform” rating in a report on Friday, October 17th. Piper Sandler set a $80.00 price target on Interactive Brokers Group and gave the company an “overweight” rating in a research note on Tuesday, October 14th. Citigroup increased their price objective on Interactive Brokers Group from $53.75 to $60.00 and gave the stock a “buy” rating in a research note on Monday, July 7th. Weiss Ratings restated a “hold (c)” rating on shares of Interactive Brokers Group in a report on Tuesday, October 14th. Finally, Zacks Research downgraded Interactive Brokers Group from a “strong-buy” rating to a “hold” rating in a report on Thursday, October 2nd. Eight analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $72.08.

Interactive Brokers Group Stock Performance

NASDAQ:IBKR opened at $68.51 on Friday. Interactive Brokers Group, Inc. has a 52 week low of $32.82 and a 52 week high of $73.35. The firm has a 50-day moving average price of $65.99 and a two-hundred day moving average price of $58.24. The firm has a market cap of $116.20 billion, a price-to-earnings ratio of 32.90, a price-to-earnings-growth ratio of 2.16 and a beta of 1.22.

Interactive Brokers Group (NASDAQ:IBKR) last released its earnings results on Thursday, October 16th. The financial services provider reported $0.57 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.49 by $0.08. The company had revenue of $1.66 billion during the quarter, compared to analyst estimates of $1.47 billion. Interactive Brokers Group had a return on equity of 5.03% and a net margin of 10.12%.Interactive Brokers Group’s quarterly revenue was up 21.2% on a year-over-year basis. During the same period in the prior year, the company posted $1.61 earnings per share. As a group, sell-side analysts forecast that Interactive Brokers Group, Inc. will post 7.46 earnings per share for the current year.

Interactive Brokers Group Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, December 12th. Investors of record on Monday, December 1st will be issued a $0.08 dividend. This represents a $0.32 dividend on an annualized basis and a dividend yield of 0.5%. The ex-dividend date of this dividend is Monday, December 1st. Interactive Brokers Group’s payout ratio is 15.38%.

Interactive Brokers Group Company Profile

Interactive Brokers Group, Inc operates as an automated electronic broker worldwide. The company engages in the execution, clearance, and settlement of trades in stocks, options, futures, foreign exchange instruments, bonds, mutual funds, exchange traded funds (ETFs), precious metals, and cryptocurrencies.